Reference interest rate, as calculated by the Central Bank of Cyprus, in accordance with article 314A of the Cyprus Penal Code, Cap.154

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Reference interest rate, as calculated by the Central Bank of Cyprus, in accordance with article 314A of the Cyprus Penal Code, Cap.154

Friday, 28 July 2017

The Central Bank of Cyprus, exercising its power under article 314A of the Cyprus Penal Code, Cap.154 as subsequently amended, has calculated, in accordance with the provisions of the said article, the reference interest rate at 9.47%.

The Central Bank of Cyprus (CBC) was established in 1963, shortly after Cyprus gained its independence, in accordance with the Central Bank of Cyprus Law, 1963 and the relevant articles of the Constitution. Today the CBC is governed by the Central Bank of Cyprus Law, 2002 as amended (hereafter “the CBC Law”).